WASHINGTON–With a House committee having passed its version of the massive National Defense Authorization Act (NDAA), the legislation is now expected to hit the floor of the House during the week of June 29, according to Jason Stverak, chief advocacy officer with the Defense Credit Union Council.
As the CU Daily has reported extensively, huge, must-pass bills such as the NDAA are often targeted as vehicles to carry legislation that has struggled to pass, such as interchange-related bill like the Credit Card Competition Act.
DCUC has also been wary of any language that would open the Federal Credit Union Act to allow non-credit union deposits to be insured by the National CU Share Insurance Fund, an expansion that has been sought by Navy FCU for deposits at the Military Banks it operates.
Fourth of July is Goal
“The goal for the House is to get a voted on before the 4th of July recess,” Stverak said. “Last week, the Senate held executive sessions at the committee level to advance out their version of the NDAA. The Senate does it a little differently. They will keep the text kind of locked in the safe, so to speak, and…we probably won’t see text officially released probably (for) a week to 10 days. Our understanding is there are not any anti-credit union provisions as a part of the bill.”
Stverak said he expects the bill to be brought to the Senate floor when senators return from the 4th of July break, with a vote likely before the August recess.”
Elections Playing Role
He noted the timetable is also affected by members of Congress seeking to be in their home districts and states as November’s elections approach.
Also complicating matters: an agreement must be found to fund the government past Sept. 30, or another shutdown occurs.
